SPY424.31+0.70 0.17%
DIA345.12+0.14 0.04%
IXIC14,069.42+49.09 0.35%

BioNTech Swings to Q1 Profit, Revenue Grows; on Track With 2021 Financial Outlook

05/10/2021 03:57

07:41 AM EDT, 05/10/2021 (MT Newswires) -- BioNTech (BNTX) said Monday it swung to a Q1 profit of 4.39 euros ($5.34) per share from a loss of 0.24 euros per share a year earlier.

Analysts polled by Capital IQ projected EPS of 3.09 euros.

Revenue was 2.05 billion euros for the quarter ended March 31, up from 27.7 million euros a year earlier. The Street forecast was 1.79 billion euros.

BioNTech said it expects revenue related to the COVID-19 vaccine to be about 12.4 billion euros upon the delivery of the currently signed supply contracts of about 1.8 billion doses. It is now targeting 3 billion doses of manufacturing capacity for 2021 and more than 3 billion doses of manufacturing capacity in 2022, according to the statement.

Looking ahead, the company said it is on track with its previously announced 2021 financial outlook. Capital expenditures are still expected to be between 175 million euros and 225 million euros, while research and development expenses are projected to be between 750 million euros and 850 million euros.

Shares of the biotech firm rose more than 8% ahead of Monday's market open.

Price: 198.20, Change: +14.49, Percent Change: +7.89